Investments in digital manufacturing are booming

According to the Factory Digital Transformation Survey 2022, the industry invests more than €1 trillion in digital transformation programs worldwide each year. (Photo: Mercedes-Benz)

According to audit and consulting firm PwC, intermittent supply chains, large fluctuations in demand and severe inflationary pressure are among the challenges industrial companies currently face. As a result, almost all companies They had to make their production more flexible and rely on a value chain model that focuses on flexibility. That’s from PricewaterhouseCoopers For Hannover Fair published Digital Factory Transformation Survey 2022 According to the industry, it invests more than €1 trillion in digital transformation programs worldwide every year.

The focus has changed regarding digital transformation. Many are also still in the very early stages of implementing digital systems and technologies. As part of the study, 700 companies worldwide were surveyed, including 100 companies headquartered in Germany. According to the study, more than half (64 percent) are in this early stage. Where the focus was previously on cost reduction and efficiency, flexibility and flexibility are now more important, the company says with a view to incentivizing it.

About ten percent are already benefiting from digitization

The study shows that the Corona crisis has not replaced the issue of sustainability for companies. According to the study, digital innovations in use include drones, wearable devices, and automated robotic vehicles. Companies rely on core IT systems such as the widely used Enterprise Resource Planning (ERP) suites and Manufacturing Execution Systems (MES), but also on new innovations such as operating platforms for devices and sensors connected to a networked Industrial Internet of Things (Internet of Things).

According to PwC, many companies are unable to implement their digitization plans despite new technologies and high investments. More than 60 percent of companies are still in the early stage of their digital transformation. Only ten percent benefit out loud Examine the high returns, flexibility and resilience of a fully completed digital transformation or at least on the verge of doing so.

After all, companies from the PwC survey plan to invest 1.8 percent of their annual net sales in the coming years — a significant increase in capital commitment compared to previous studies. According to the results of the study, companies that invest more than 3 percent of their annual net sales in the digital transformation of their factories are 2.5 times more likely to achieve higher returns than companies that invest less than 2 percent.

Leave a Comment